The tea party made historic gains in Tuesday's midterm elections and if one Minnesota Republican has her way, the movement may be in line for a high ranking leadership position.

A report at Andrew Breitbart's BigGovernment website indicates that Rep. Michele Bachmann (R-MN) will enter the race for Republican Conference Chairman, the fourth most powerful position in the House.

Rep. Mike Pence (R-IN) announced Wednesday that he was stepping down from the position.

"Now that we have restored a Republican majority to the House of Representatives and I have fulfilled my commitment to the Republican conference, my family and I have begun to look to the future," Pence wrote in a statement.

The GOP Conference Chair is responsible for managing private meetings to elect floor leaders and handles distribution of committee assignments.

Rep. Jeb Hensarling (R-TX), who is close to Rep. Eric Cantor (R-VA) and the GOP establishment, has also indicated that he wants to run for the position.

"If Bachmann decides to run, it could mean the first 'Establishment versus Tea Party' battle within the GOP Leadership," NBC's Luke Russert noted.

"In that battle, it is now unclear who would prevail because it is not known who the newly elected House Republicans would support."